NEW and URF are securities trading on the ASX. Both are managed by E&P, the new name given when Walsh &Co and Dixon Advisory were rebadged. NEW was trading steadily until the URF shenanigans in New York came to light some years ago. Then NEW dropped like a spiked balloon. Again NEW was trading in 90c area for weeks until E&P announced it had entered into an arrangement to sell about 97% of its property portfolio for 22c per unit. Given that E&P were announcing to the ASX that the NAV of URF was in the 65-70C area. These announcements were weekly for years. With no sign of apology this was recommended to URF shareholders. Appalling effrontery. Then the settled NEW SP started falling again to go from 90C to 83C for no otherwise apparent reason. The equity in NEW is on the selling block. The likely buyer is US SOLAR FUND PLC USF Stock | London Stock Exchange who is also managed by E&P. This smells to high heaven.
NEW Price at posting:
83.0¢ Sentiment: Hold Disclosure: Held
